Annual Bonus, Savings Update, Etc.

Posted by Dave on 15 March 2007.

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I received my first annual bonus…ever…yesterday. I’d literally been looking forward to the day since my company was acquired in 2005. Perhaps that is why it seemed so anti-climactic. I had earmarked the whole bonus for my RTW savings 15 months before it was in my pocket. Don’t get me wrong, I’m very satiated by the fact that half of it is now earning me 4.5% interest in my ING Direct savings account! Still, there were no champagne bottles uncorked…no gourmet dinner with a girlfriend…or beers with friends to celebrate.

And for those of you who’ve kept up with my dental tribulations, you may know that much of the money won’t even go toward my trip, but rather a dental implant I’m getting in 4 short days. I was reviewing my savings targets, and it seems as though I’m going to have to start saying “no” more often, and more aggressively, than I have in the past. Still, it feels like I’m getting walloped right now with a confluence of expenses. Here are the big ones:

$1500 – Stage 1 of dental implant
$180/month – Amount of my rent increase, effective February (to Oct)
$200 – new wheel for my car (I have a crack in one, and I’m running on borrowed time and air)
$150 – 6-month car tune-up (VW in da house)

On the plus side, I realized last year I couldn’t afford a vacation this Spring as I’ve done the last two years. It’d be too detrimental to my overall plans. I know it’s the right decision, even though I’d come back super motivated (and more excited, if that’s possible). In the future, I will be dedicating more time to how to work your way out of debt, and save, save, save for whatever it is that you want.

For now, check out the financial situation I’m coming from 5 years ago, to see how far I’ve come to position myself to take a RTW trip by year’s end!

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This post was written by:

Dave - who has written 997 posts on Go Backpacking.

Dave Lee (Editor-in-Chief) blogged his way around the world from 2007-2009, and then started Travel Blog Success to teach others how to do the same. When not writing, he can be found salsa dancing, and lamenting his untimely departure from Medellin. Follow him on Twitter @rtwdave

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Dave

Looks like I'm in some good company! Thanks for listening to me blow off some steam. In the big picture, as my dear mom says, these things may chip off a few weeks of your trip, however you're still going to go (and have an amazing time).

Dan

Just last night I chipped my tooth, front one too and the second chip on that tooth, there's another chip on the other one too, I was furious. Don't think I'll be going for caps until after I've travelled though. I also have a car service due, overdue actually, just. It's quite a peeve when these things happen but I guess we just have to face them, I'm hanging out for tax time so that I can finish paying off my car loan, then I'll but one the no spend (at all) budget.